United top Forbes list

Real Madrid set to close the gap

Manchester United remain the most valuable sports team on the planet

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Manchester United have once again been named as the most valuable sports team in the world on the annual Forbes list.

United are believed to be worth 2.24billion US dollars (£1.4bn), 385million USD more than baseball's New York Yankees and the NFL's Dallas Cowboys.

Arsenal are the next highest English team on the list, ranked as the fourth most valuable football club in the world.

The Gunners are worth 1.29billion USD (£800m), behind Real Madrid ($1.6bn, or £1bn) and Barcelona (£816m) but just ahead of Bayern Munich (£766m).

The Forbes list ranks Chelsea in seventh place, worth £474m, and Liverpool eighth with a value of £386m.

The Red Devils' huge global fanbase, estimated by Forbes to number 330million, has helped maintain the club's position at the top of the rankings.

However, Real Madrid and Barcelona have higher revenues than United, due in large part to the fact they are able to negotiate their own individual television rights deals.

The figures are also based on last year's financial results - a season in which United reached the Champions League final.

This season Sir Alex Ferguson's side failed to make the knockout stage and their income from European football is expected to drop as a result - particularly in relation to Real Madrid and Barcelona who are both in the Champions League semi-finals.

Tottenham are 11th on the list, valued at £351m, and Manchester City 13th, worth £276m.